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Security concerns boost Costa Rican condo boom

Wednesday, April 10, 2013

The high cost of land, resource use, and security are just some of the reasons for the high growth in the number of square feet dedicated to the construction of condominiums in Costa Rica between 2011 and 2012.

According to the Costa Rican Chamber of Construction, condo development grew by almost 130 percent in the last year, while single-family home construction grew just 5 percent.

During 2012, some 870,000 square meters of condominium construction occurred, while the year previous that number was 387,000, according to the chamber president, Gonzalo Delgado.

Source: Inside Costa Rica